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    31 year ago

    This is the best summary I could come up with:


    Mark Carney also said Brexiteers such as the former Conservative leader - who became the shortest-serving prime minister in history when she resigned last year - had a “basic misunderstanding of what drives economies”.

    Speaking at the Global Progress Action Summit in Montreal, the former Bank boss hit out at the “misguided view” that cutting taxes and government spending leads to economic growth - and accused Brexiteers of wanting to “tear down the future”.

    Mr Carney said populists, including Brexiteers, treated spending and tax cuts as a “Pavlovian reaction to every problem” which was “grounded in a basic misunderstanding of what drives economies.”

    “Those with little experience in the private sector - lifelong politicians masquerading as free marketeers - grossly under-value the importance of mission, of institutions, and of discipline to a strong economy.”

    Read more from Sky News:Met Police responds to Russell Brand claimsAirport closed by flooding amid weather warningsSir Keir Starmer fails to rule out tax burden rise under Labour

    Mr Carney, whose current roles include being the vice chair of Brookfield Asset Management, was replaced by Andrew Bailey as governor of the Bank in 2020 after he stayed on longer than expected due to concerns over potential Brexit disruption to the economy.


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